Real Estate Investing in Albany, Indiana (47320)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47320 (Albany, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.7% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Albany, IN (47320)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47320 Albany
Investors eyeing 47320 need to respect the fundamentals at play. Home values of $200K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $200K asset, 47320 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 47320 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 47320 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 47320 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Albany:
Property Strategy for 47320
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $118,545 | $960 | 5.8% | +9.5% | $59,272 |
| 3BR | $180,331 | $1,240 | 5.0% | +9.2% | $60,110 |
| 4BR | $258,002 | $1,530 | 4.3% | +8.0% | $64,501 |
Market Trends
Home Value History (with trend line)
📊 How Does 47320 Compare?
| Metric | 47320 | Albany | Muncie, IN | Indiana |
|---|---|---|---|---|
| Home Value | $200,016 | $200,016 | N/A | $248,442 |
| 5-Year CAGR | 8.2% | 8.2% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47320 (Albany, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $200,016 |
| Monthly Rent | $864 |
| Price-to-Rent | 19.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +10.0% ▲ |
| 3-Year CAGR | +7.1% ▲ |
| 5-Year CAGR | +8.2% ▲ |
| 10-Year CAGR | +8.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 47320
Population: 4,486
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 47320
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,042 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the investability score for Albany, IN?
Albany, IN reports an investability rating of 3.0/5, with median home values near $200K and average rents around $864/mo. That combination puts it in the durable tier for investor interest.
What is the smart move for investors in Albany, IN?
Most investors in Albany, IN run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Are rents high in Albany, IN?
Rents in Albany, IN run near $864/mo. Compared with median home prices of $200K that produces solid gross yields for typical rentals.
How quickly do rentals get leased in Albany, IN?
Vacancy risk in Albany, IN is elevated. That supports steady cash flow for typical rental holds.
What are home prices like in Albany, IN?
Median home price in Albany, IN is near $200K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
You know 47320 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47320 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 47320 ranks in Muncie, IN
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